Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority Publish Joint Consultation Conclusion on Amendments to Over-the-Counter Derivative Transaction Regulations under the Clearing Rules

On June 5, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority published a joint consultation conclusion on amending the regulations for over-the-counter (OTC) derivative transactions under the Securities and Futures (OTC Derivative Transactions – Reporting, Record-Keeping and Central Counterparty Designation) Rules. They have decided to designate two standard calculation periods annually (March 1 to May 31 and September 1 to November 30) effective March 1, 2027, replacing the current practice of periodically revising the list of calculation periods through legislation.